Vertex Pharmaceuticals Inc VRTX:NASDAQ

Last Price$176.14NASDAQ Previous Close - Last Trade as of 3:59PM ET 10/15/19

Today's Change+2.55(1.47%)
Bid (Size)$176.14 (2)
Ask (Size)$176.20 (5)
Day Low / High$174.02 - 176.98
Volume762.6 K

Vertex Pharmaceuticals to Acquire Semma Therapeutics for $950 Million, Shares Gain Pre-Bell

8:54AM ET 9/03/2019 MT Newswires
Vertex Pharmaceuticals (VRTX) said Tuesday it will acquire Semma Therapeutics for $950 million in cash, and its shares were firming in pre-market trading.

Semma is a privately held biotechnology company that uses stem cell-derived human islets for Type 1 diabetes treatments. It will become a separate operating subsidiary of Vertex, with CEO Bastiano Sanna joining Vertex as president of Semma. Douglas Melton, the scientific founder of Semma, will stay as chair of its scientific advisory board while guiding on research and development.

The acquisition is expected to close in Q4 subject to conditions including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

Price: 181.50, Change: +1.48, Percent Change: +0.82